Wealth Enhancement Advisory Services LLC Cuts Stock Position in D.R. Horton, Inc. (NYSE:DHI)

Wealth Enhancement Advisory Services LLC lowered its stake in D.R. Horton, Inc. (NYSE:DHI) by 3.3% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 547,912 shares of the construction company’s stock after selling 18,424 shares during the period. Wealth Enhancement Advisory Services LLC owned 0.17% of D.R. Horton worth $104,525,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bfsg LLC lifted its position in D.R. Horton by 70.5% in the 2nd quarter. Bfsg LLC now owns 179 shares of the construction company’s stock valued at $25,000 after acquiring an additional 74 shares in the last quarter. RiverPark Advisors LLC bought a new position in D.R. Horton in the 1st quarter valued at approximately $29,000. Signature Resources Capital Management LLC bought a new position in D.R. Horton in the 2nd quarter valued at approximately $31,000. Wolff Wiese Magana LLC lifted its position in D.R. Horton by 1,306.7% in the 3rd quarter. Wolff Wiese Magana LLC now owns 211 shares of the construction company’s stock valued at $40,000 after acquiring an additional 196 shares in the last quarter. Finally, Grove Bank & Trust lifted its position in D.R. Horton by 76.2% in the 3rd quarter. Grove Bank & Trust now owns 215 shares of the construction company’s stock valued at $41,000 after acquiring an additional 93 shares in the last quarter. Hedge funds and other institutional investors own 90.63% of the company’s stock.

D.R. Horton Trading Down 1.9 %

Shares of NYSE:DHI traded down $3.46 during trading hours on Friday, hitting $179.24. 1,962,962 shares of the company’s stock traded hands, compared to its average volume of 2,431,438. D.R. Horton, Inc. has a 1 year low of $100.81 and a 1 year high of $199.85. The business has a fifty day moving average price of $187.89 and a 200-day moving average price of $164.64. The firm has a market capitalization of $59.03 billion, a P/E ratio of 12.20, a price-to-earnings-growth ratio of 0.78 and a beta of 1.72. The company has a debt-to-equity ratio of 0.23, a current ratio of 7.22 and a quick ratio of 1.30.

D.R. Horton announced that its Board of Directors has initiated a share repurchase plan on Thursday, July 18th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the construction company to buy up to 6.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Bank of America increased their price target on D.R. Horton from $196.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Keefe, Bruyette & Woods increased their price target on D.R. Horton from $178.00 to $208.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Wedbush upgraded D.R. Horton from an “underperform” rating to a “neutral” rating and set a $165.00 price target for the company in a research note on Tuesday, October 15th. JMP Securities raised their price objective on D.R. Horton from $170.00 to $210.00 and gave the company a “market outperform” rating in a research report on Friday, July 19th. Finally, Royal Bank of Canada raised their price objective on D.R. Horton from $141.00 to $154.00 and gave the company an “underperform” rating in a research report on Friday, July 19th. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, D.R. Horton currently has a consensus rating of “Moderate Buy” and an average target price of $185.67.

About D.R. Horton

D.R. Horton, Inc operates as a homebuilding company in East, North, Southeast, South Central, Southwest, and Northwest regions in the United States. It engages in the acquisition and development of land; and construction and sale of residential homes in 118 markets across 33 states under the names of D.R.